Denver Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,504 shares of the information services provider’s stock after selling 274 shares during the quarter. Denver Investment Advisors LLC’s holdings in Alphabet were worth $8,836,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in Alphabet during the 2nd quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet during the 1st quarter valued at about $108,000. Parkside Financial Bank & Trust boosted its holdings in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the last quarter. Farmers National Bank boosted its holdings in shares of Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in shares of Alphabet by 58.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 56 shares during the last quarter. 33.87% of the stock is currently owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOGL) opened at $1,044.15 on Friday. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,063.62. The firm has a market capitalization of $725,476.50, a price-to-earnings ratio of 34.96, a PEG ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same period last year, the company earned $9.06 earnings per share. equities research analysts predict that Alphabet Inc. will post 32.15 EPS for the current year.
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A number of analysts have recently issued reports on the stock. Vetr raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 price target on the stock in a report on Monday, November 6th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Citigroup Inc. reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, October 30th. Stifel Nicolaus raised their price target on shares of Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $990.00 price target on shares of Alphabet in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,088.53.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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